I believe so.
One monitor would display Trainz ... and the other the internet, or other applications.
If both monitors were displaying Trainz, the screens would be exactly identical ... defeating the purpose.
I run Trainz windowed so that I can view a topo map or Google Earth, with Trainz on the same screen. You can slide the windows, and Trainz around the desktop.
What would be neat if Trainz had a two monitor, split screen capability, stereoscopic view (like cenimascope, or panavision) so you could get a really wide angle view, like the eye sees ... instead of tunnel vision